Copper futures slide 0.38% on profit booking

Copper prices moved down by 0.38 per cent to Rs 453.75 per kg in futures trade today as speculators indulged in reducing their positions to book profits.

Besides, low demand from consuming industries in the spot market weighed on prices.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.75 or 0.38 per cent to Rs 453.75 per kg in business turnover of 6,445 lots.

Likewise, the metal for delivery in far-month February traded lower by Rs 1.60 or 0.35 per cent to Rs 458.80 per kg in 59 lots.

Analysts attributed the fall in copper prices at futures trade to profit-booking by speculators amid a muted demand at the domestic spot markets.